Public finance

Tax exemption concerns — though an elimination is unlikely — and the loss of federal stimulus will "most assuredly pull forward delayed issuance, with the first half of 2025 volume to exceed second half volume," said James Welch, a municipal portfolio manager at Principal Asset Management.

S&P Global Ratings revised the outlook on Southern California Edison and its parent company citing the potential depletion of the state's bond wildfire fund.

Plans to sell a bankrupt municipal bond-financed care facility to a private equity firm threaten to upend care for its frail senior residents.

To close out the day, USTs remained mixed, with yields rising on the short end and falling out long, while munis were changed up to a basis point, depending on the curve.

The San Joaquin Hills Transportation Corridor Agency tapped reserves to make early bond payments saving $203 million. It's parent agency, the Transportation Corridor Agencies, hopes to save $1.79 billion with additional early pay downs by 2030.

Issuers, trade organizations, and investors team up to fight the threat to the tax-exempt status of municipal bonds by laying out its effect on borrowing, the housing market, and infrastructure costs.

Gov. Kathy Hochul's $252 billion state budget proposal calls for lower-bracket income tax cuts and one-time cash payouts for everyone.

The change, which marked a move away from recent norms, was made since President Donald Trump took office on Jan. 20, the people told Reuters.

Analysts Chris Collins and Melissa Nicandri were among the 64 passengers and crew aboard American Airlines flight 5342.

January's municipal bond supply "will end up being heavier compared with the normally slow start of the year, but the pipeline should remain quite robust," Barclays said.

January's volume was $35.243 billion in 486 issues, up 10.8% from $31.817 billion in 554 issues in 2024, according to LSEG data.

The zero-interest loan fund was announced following a Thursday meeting of CHFFA, the conduit chaired by Ma that will administer the program.

The offering document for a White Lake Township bond sale sheds more light on the hack criminals used to intercept funds between the underwriter and borrower.

MSRB believes "it's an appropriate time" to launch a holistic review of its municipal advisor rules, CEO Mark Kim said.

The school wants to be able to offer bonds supported by its general fund and not just bonds its revenue streams.

Investors added $741.7 million to municipal bond mutual funds in the week ending Wednesday, following $2.078 billion of inflows the prior week, according to LSEG Lipper data.

Dealer groups are urging the Municipal Securities Rulemaking Board to change the way it charges fees to municipal advisors.

The Dallas-based firm, which was acquired last year by Texas Regional Bank, is expanding its underwriting reach in Texas and other states aided by new hires.

The recovery of local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling.

Even with the possibility of inflation and fiscal policy-induced headwinds, there is much to be optimistic about in the muni market, despite some possible near-term turbulence, said GW&K strategists.